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  "documentTitle": "Innovative Industrial Properties, Inc. (IIPR)",
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  "authorName": "Grizzly Research",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-04-09 00:00:00",
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  "notes": "Includes screenshots of property records and site visit photos.",
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      "text": "We are discounting the rent by 33% due to overpayment.",
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      "text": "rent: 33%",
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      "text": "The deed records also show that this property was previously purchased by The Pharm LLC from Mitchell D. Song for $1.2M on 09/16/2019, merely three days before IIPR purchased it from The Pharm LLC. The price has gone up significantly by $800K, or 67% in three days, representing an annualized return of 8151%.",
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      "text": "We are discounting the rent by 33% due to overpayment. We believe the previous purchase price of $800,000 is much more reflective of the value of the property and we adjusted 2020 rent accordingly.",
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      "kind": "paragraph",
      "text": "We visited the store and discovered that it wasn't open. We confirmed this with the neighbors next door. A woman in the gas station suggests that they won't be open until end of March or April, but is highly suspicious even to this timeline due to the coronavirus. She also mentioned that the building was previously a pet veterinarian building knocked down in the March or April 2019.",
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      "kind": "title",
      "text": "Discount Treatment:",
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